Filing Flows › Euronet Worldwide (EEFT) › Takeover & LBO
Is Euronet Worldwide (EEFT) a takeover target?
A leveraged buyout at today's price plus 30% ($82.09 a share) would return about 10% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $62.73 a share (−1% against today's $63.15). Historically 3.5% of companies with its figures were bought within a year (0.7× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $82.09 | today's $63.15 plus 30% |
| × shares | 45.8 million | |
| = Equity value | $3.8B | |
| + Debt refinanced | $2.2B | |
| − Cash | $955M | |
| + Other claims | $16.3M | preferred stock, minority interests |
| = Enterprise value | $5.0B | 7.8× EBITDA of $639M |
| Fees | $99.9M | 2% of the price |
| New debt | $3.2B | 5.1× EBITDA at 7.65% a year; the limit that binds: 65% of the price |
| Buyer's own money | $1.8B | 36% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.6B | $670M | $248M | $194M | $3.1B |
| Year 2 | $4.8B | $700M | $233M | $223M | $2.8B |
| Year 3 | $5.0B | $728M | $216M | $253M | $2.6B |
| Year 4 | $5.2B | $754M | $197M | $283M | $2.3B |
| Year 5 | $5.3B | $776M | $175M | $313M | $2.0B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 6.5× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $5.0B | |
| − Debt left | $2.0B | |
| = Buyer's equity | $3.0B | |
| Money multiple | 1.64× | on $1.8B put in |
| Buyer's yearly return (IRR) | 10.4% |
Price against return
What the buyer makes at other premiums over today's $63.15; the IRR reaches 20% at $62.73 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $69.47 | 16.6% |
| 20% | $75.78 | 13.5% |
| 30% | $82.09 | 10.4% |
| 40% | $88.41 | 7.4% |
| 50% | $94.72 | 4.4% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $4.4B | |
| EBITDA, last 12 months | $639M | 14.6% of revenue |
| Depreciation and amortization | $157M | |
| Capital spending | $123M | |
| Debt | $2.2B | |
| Cash | $955M | |
| Share price | $63.15 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 5.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 14.9% over the share price before the deal (the middle half 9.5% to 33.6%), according to the 17 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Euronet Worldwide would cost about $72.56 a share, $3.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 9.5% | $69.15 | $3.2B |
| Median | 14.9% | $72.56 | $3.3B |
| High end (a quarter paid more) | 33.6% | $84.37 | $3.9B |
The odds, from history
Historically 3.5% of companies with its figures were bought within a year (0.7× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Euronet Worldwide's latest quarter
Euronet Worldwide, Q3 2026: revenue $1.2B (+1% year over year), operating margin 14.8%, net earnings $114M, operating cash flow $226M. The chart follows the revenue to costs, profit and cash.
Questions
Is Euronet Worldwide being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Euronet Worldwide?
A leveraged buyout at today's price plus 30% ($82.09 a share) would return about 10% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $62.73 a share (−1% against today's $63.15).
What would a takeover of Euronet Worldwide cost?
Takeovers in its sector paid a median premium of 14.9% over the share price before the deal (the middle half 9.5% to 33.6%), according to the 17 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Euronet Worldwide would cost about $72.56 a share, $3.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.